Russell Investments Group Ltd. Trims Stake in Silicon Laboratories Inc. (NASDAQ:SLAB)

Russell Investments Group Ltd. cut its holdings in Silicon Laboratories Inc. (NASDAQ:SLAB) by 49.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,583 shares of the semiconductor company’s stock after selling 19,823 shares during the period. Russell Investments Group Ltd.’s holdings in Silicon Laboratories were worth $2,557,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of SLAB. Jones Financial Companies Lllp raised its holdings in Silicon Laboratories by 44.5% in the 4th quarter. Jones Financial Companies Lllp now owns 224 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 69 shares during the period. Headlands Technologies LLC bought a new position in shares of Silicon Laboratories in the fourth quarter worth about $70,000. Venturi Wealth Management LLC lifted its position in shares of Silicon Laboratories by 207.0% during the 4th quarter. Venturi Wealth Management LLC now owns 786 shares of the semiconductor company’s stock valued at $98,000 after buying an additional 530 shares in the last quarter. Asset Management One Co. Ltd. purchased a new stake in Silicon Laboratories in the 4th quarter worth approximately $117,000. Finally, KBC Group NV raised its stake in Silicon Laboratories by 42.1% during the 4th quarter. KBC Group NV now owns 1,279 shares of the semiconductor company’s stock worth $159,000 after acquiring an additional 379 shares during the period.

Analysts Set New Price Targets

A number of research firms have weighed in on SLAB. StockNews.com lowered shares of Silicon Laboratories from a “hold” rating to a “sell” rating in a research report on Thursday, March 27th. Barclays increased their price target on Silicon Laboratories from $75.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Friday, January 17th. Needham & Company LLC reaffirmed a “buy” rating and issued a $150.00 price objective on shares of Silicon Laboratories in a research note on Wednesday, March 12th. Benchmark reissued a “buy” rating and set a $160.00 target price on shares of Silicon Laboratories in a research note on Wednesday, March 12th. Finally, KeyCorp upped their price target on Silicon Laboratories from $115.00 to $160.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $133.70.

Silicon Laboratories Price Performance

NASDAQ:SLAB opened at $90.50 on Friday. The company has a market cap of $2.94 billion, a price-to-earnings ratio of -15.24 and a beta of 1.33. Silicon Laboratories Inc. has a 1 year low of $82.82 and a 1 year high of $160.00. The stock’s 50 day simple moving average is $123.13 and its two-hundred day simple moving average is $121.71.

Silicon Laboratories (NASDAQ:SLAB) last announced its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported ($0.11) earnings per share for the quarter, hitting the consensus estimate of ($0.11). Silicon Laboratories had a negative net margin of 32.69% and a negative return on equity of 10.46%. The company had revenue of $166.25 million for the quarter, compared to analysts’ expectations of $166.09 million. During the same quarter in the previous year, the business posted ($1.19) earnings per share. Silicon Laboratories’s quarterly revenue was up 91.4% on a year-over-year basis. As a group, analysts anticipate that Silicon Laboratories Inc. will post -0.97 EPS for the current year.

Insider Activity

In related news, Director Navdeep S. Sooch sold 2,360 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $149.00, for a total transaction of $351,640.00. Following the sale, the director now owns 400,567 shares in the company, valued at approximately $59,684,483. This represents a 0.59 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director William G. Bock sold 2,000 shares of Silicon Laboratories stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $140.77, for a total transaction of $281,540.00. Following the transaction, the director now directly owns 32,115 shares of the company’s stock, valued at $4,520,828.55. The trade was a 5.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,360 shares of company stock worth $782,610. 1.60% of the stock is currently owned by corporate insiders.

About Silicon Laboratories

Silicon Laboratories Inc, a fabless semiconductor company, provides various analog-intensive mixed-signal solutions in the United States, China, Taiwan, and internationally. The company's products include wireless microcontrollers and sensor products. Its products are used in various electronic products in a range of applications for the industrial Internet of Things (IoT), including industrial automation and control, smart buildings, access control, HVAC control, and industrial wearables and power tools; smart cities applications, such as smart metering, smart street lighting, renewable energy, electric vehicle supply equipment, and smart agriculture; commercial IoT applications, including smart lighting, asset tracking, electronic shelf labels, theft protection, and enterprise access points; smart home applications, comprising home automation/security systems, smart speakers, smart lighting, HVAC control, smart cameras, smart appliances, smart home sensing, smart locks, and window/blind controls; and connected health applications, including diabetes management, consumer health and fitness, elderly care, patient monitoring, and activity tracking; as well as in commercial building automation, consumer electronics, and medical instrumentation.